Highlights of Union Budget 2013-14

Global growth slowed to 3.2% vs 3.9% yoy. CSO estimated GDP growth at 5% for FY13. Biggest concern is high current account deficit; we need $75 billion to finance CAD. Current account deficit a bigger worry than Fiscal Deficit. FII, FDI or external commercial borrowing to finance CAD, is the only way forward

FY14 plan expenditure to be 30% more than in FY13. Total Budget estimate for FY14 16.44 lakh crore.

Rs 1,069 cr proposed to be allocated to AYUSH to promote Ayurveda, Homoeopathy, Siddha and Unani

Increase allocation to Defence at 2,30,672 cr

Plan exp: Rs 5.55 lakh cr, Non plan exp at Rs 11 lakh cr

Fiscal deficit contained at 5.2% in FY13, pegged at 4.8% in FY14

Rs 27,330 cr to Min of Health and Family Affairs. Rs 4,727 crore to medical education, training and research.

Clean drinking water, sanitation: 15,260 cr allocated Ministry of drinking water and sanitation.Allocation for integrated water programme from 3,050 cr to 5,387 cr next year. Higher allocation for water treatment

Credit guarantee fund for small farmers, with initial corpus of Rs 100 cr. Rs 500 cr to start program of crop diversification to enrich farmers. Farmer who repays loan on time will be given financial assistance at 4%

Rs 27048 cr to agriculture dept, agricultural research to be given Rs 3450 cr. Indian Institute of Agri-Biotechnology to be established at Ranchi, Jharkhand.